Free Markets, Free People


Marcellus shale — a job boom brought to you by drilling, drilling and drilling

This could be happening on federal land as well, if the Obama administration would get out of the way.  The Marcellus shale formation, found in Pennsylvania and New York, is reviving parts of the Rust Belt and providing good paying jobs for the area and much needed energy for the nation.  The article is from the Pittsburg Tribune-Review:

Largely because of energy sector growth, including drilling for gas in Marcellus shale, life is changing for people in Washington County. Its job growth ranked in the top five nationally when federal statistics trackers compared the first and second quarters of 2011 to the year prior.

Butler County, bolstered by Westinghouse Electric Co.’s move from Monroeville, ranked near the top nationally in job and wage growth, according to the U.S. Department of Labor.

The drilling industry has helped people across Pennsylvania, said Kurt Rankin, an economist with PNC Financial Services Group, Downtown.

"It’s like found money," Rankin said. "It does have a secondary spillover effect in that the jobs that are created there are relatively high-paying jobs. That brings an entirely new income base to those counties."

From 2000 to 2007, the state recorded 17,000 to 20,000 workers in mining and logging, Department of Labor records show. That has jumped by more than 50 percent, largely since May 2009. More than 33,000 Pennsylvanians worked in that sector as of November.

MshaleThis is waiting to happen in many areas, but government and environmentalists continue to block much of it, especially on federal lands.  Despite Obama’s claim that “all-of-the-above” is his energy policy, his administration’s actions have hardly enabled this sort of growth in areas controlled by the federal government.  Sen. John Thune outlined the reality of the President’s energy policy and it doesn’t match the President’s rhetoric:

Over the past three years, the president has systematically discouraged new energy exploration and development. His proposed five-year offshore lease plan sharply restricts the sale of leases for energy exploration and bans energy development on 97 percent of the available offshore areas. Since Obama issued his six-month deepwater moratorium in 2010, the number of permits issued for offshore energy development has declined a staggering 40 percent to 50 percent.

As a result of the president’s policies, energy production in Alaska and the Gulf of Mexico is projected to decline. Energy production in Alaska is threatened to such an extent that the future viability of the Trans Alaska Pipeline System, a vital source of domestic oil, is now in question.

The president is also restricting energy production on federal lands. While energy production from federal areas was relatively high in 2010 and 2011, almost all of that production was from leases issued before he entered office. Under the Obama administration, the issuance of new drilling leases and permits to drill on federal lands has declined by 44 percent and 39 percent, respectively.

Is it any wonder that his only fallback position when confronted by higher gasoline prices is to look toward tapping the Strategic Petroleum Reserve (which is not there to help lower gas prices)?

All-of-the-above?  Another myth brought to you by the master of doublespeak.  Remember that when you’re pumping $5 a gallon gasoline this summer.

~McQ

Twitter: @McQandO

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8 Responses to Marcellus shale — a job boom brought to you by drilling, drilling and drilling

  • If this oil boom had happened about ten years ago I have no doubt I would be part of it, making a lot of cash. But my oilfield days are over, unless I can land a desk job. Too bad during most of my working years we had lousy oil and gas prices and a depressed industry.

    • @kyle8 IF I were advising a young fella…or girl…I’d tell them to learn directional drilling operations.

      No heavy lifting, and the money is good.

  • Let’s see if Obama (the master of doublespeak) can properly play the “Strategic Petroleum Reserve Gambit.”
    If played correctly, you don’t even have to release any oil from the reserve or maybe just a little. You are supposed to just scare the speculators out of the spot market.

    My money is that he screws the pooch.

  • Let’s see if Obama (the master of doublespeak) can properly play the “Strategic Petroleum Reserve Gambit.” If played correctly, you don’t even have to release any oil from the reserve or maybe just a little. You are supposed to just scare the speculators out of the spot market. The better the buff, the longer between attempts, so he will have to time it perfectly.

    My money is that he screws the pooch.

  • We’ve got to make sure it’s safe—the Gulf still hasn’t recovered from BP.

    • @tadcf – We’ve been fracking since 1949 and have fracked over a million wells with not a single documented case of ground water contamination in all that time. How much safer does it need to be?

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